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Nasdaq Composite Live: Apple (AAPL) Leads Tech Stocks Higher to End the Week

Gerelyn Terzo

Published: January 31, 2025 10:39 am

Last Updated: January 31, 2025 10:49 am

Live Updates

Nasdaq Winners and Losers

10:49 am

The Nasdaq 100 is moving past the DeepSeek sell off on Monday, up 3.75% over the past 5 days.

Here are today’s top gainers and losers:

Stock	Ticker	Today’s Performance
Atlassian	TEAM	+17.66%
ARM Holdings	ARM	+5.40
Vertex	VRTX	+4.93
Baker Hughes	BKR	+4.89
Broadcom	AVGO	+3.89
Diamondback Energy	FANG	-2.67
PDD Holdings	PDD	-2.21
Fastenal	FAST	-2.09
Constellation Energy	CEG	-1.96

 

The big market story today is Apple (Nasdaq: AAPL), which is lifting all boats and driving the Nasdaq Composite over 1% higher to end the week on a positive note. Apple’s Q1 results appeased investors and the markets are seeing the AI glass half full. Apple stock is up 2% out of the gate to hover at $242 per share after trading as high as $247 per share post-earnings.

Tech is leading the broader markets higher, and the Dow Jones Industrial Average is slightly up and S&P 500 also posting gains. The markets also breathed a sigh of relief in response to muted inflation data that lends itself to interest rate cuts in 2025. Energy stocks remain under pressure after Chevron (NYSE: CVX) reported a profit decline and lower oil production. CVX stock is down 4% on the day, dragging the sector lower.

Apple Highlights and Trump Tariffs

Despite some signs of weakness, not least weaker iPhone sales, Apple remains a favorite stock on Wall Street. Investors appear to be focused on the long-term prospects for AI, which go beyond the tech’s potential in the chatbot arena. Apple’s China sales sank by a double-digit percentage, while overall revenue climbed 4% higher to $124.3 billion. Apple’s services business was a bright spot, resulting in record margins for the growing business.

President Trump’s tariff showdown is beginning, starting with Canada and Mexico, seemingly this weekend. Meanwhile, lawmakers are urging President Trump to impose guardrails surrounding the export of Nvidia’s (Nasdaq: NVDA) AI chips so that China’s DeepSeek can’t get its hands on them. Nvidia boss Jensen Huang meets with President Trump at the White. Led by ByteDance, China imported billions of dollars worth of Nvidia’s chips last year.

Markets Overview

Dow Jones Industrial Average: up 45.35 (+0.10%)
S&P 500: up 38.19 (+0.63%)
Nasdaq Composite: up 249.13 (+1.24%)

Here’s Wall Street’s response to Apple’s Q1 results:

• DA Davidson raised its price target on AAPL stock to $290 from $260.
• Deepwater Asset Management’s Gene Muster, a tech bull, isn’t worried about slowing iPhone sales, telling CNBC, “You start looking out over the next several quarters, you should start to see accelerating revenue growth.”
• Citi analysts attached a 90-day positive catalyst watch to Apple stock, lifting the price target to $275 per share and touting the company’s Apple Intelligence release.
• New Street Research analyst Antoine Chkaiban remains cautious, telling Yahoo Finance, “We’re not convinced that on-device AI will enable game-changing user experiences because the hardware is not game-changing.”